Statrys: Open a Business Account that Fit Your Needs Today!

Business Bear 7 min read

When starting an online or any other form of business, you must plan where your money will go after you begin selling 👨‍🏫 Setting up a separate company account to be tax-compliant and have a clear picture of your cash flow is advisable. You may easily open a business account with your current bank, and several account kinds are intended exclusively for online entrepreneurs.

Statrys is one of these instances. This platform primarily serves Hong Kong-based businesses needing help to obtain a business bank account to meet their demands 🏆 This is where Statrys shines. The service provides all-in-one assistance, with its main selling point being its ease of use.

Aside from that, they provide a unique set of international business features. Statrys provides multi-currency accounts, multi-language assistance, and e-commerce interfaces to worldwide e-commerce vendors in Hong Kong, Singapore, and the British Virgin Islands 🏆

So, if you want to learn more about this exciting topic, let's dive in together and arm ourselves with this new information.

What is Statrys?

Statrys, founded in 2018, is a startup firm dedicated to making digital payments easier for small companies 🏆 Banks terminate company accounts for various causes, such as low account balances or complicated compliance concerns, causing firms to suffer. That's how Statrys was conceived. This platform provides SMEs with alternate conventional financial services when banks cannot.

Statrys may be prevalent in Hong Kong, but it has an influence worldwide 👨‍🏫 Many of their offerings cater to worldwide business; they even have offices in Thailand and London.

🏆 Business Fact!

Statrys Business Accounts contain various Features and Services.

Features and Services of Statrys Business Accounts

Statrys is committed to giving the finest banking expertise to entrepreneurs by resolving their banking service difficulties 🏆 This electronic payment platform provides these services so that owners of businesses would no longer need to visit a bank office for commercial transactions.

There are few or highest transactions, so you may utilize Startrys regardless of the scale or business 👨‍🏫 However, the following are some of Statry's most prominent business account features and benefits:

1. Multi-Currency Accounts

With Statrys business accounts, you may handle 11 currencies with a single account number 🏆 Among these currencies are:

HKD
USD
EUR
GBP
SGD
CNY (or RMB)
JPY
CAD
AUD
NZD
CHF

You can choose whether to exchange currency. All settlements, however, will be credited to your bank account in the original currency 👨‍🏫 For example, Statrys can lower the expenses and time associated with sending payments to China from your E-Commerce firm if you do a lot of business with China.

2. Proof of Payment

Statrys allows you to make and receive transactions from over 100 countries worldwide and gives payment evidence for each transaction. It lets you update the suppliers and vendors and, if necessary, prove the payment immediately 🏆 Compared to other banking solutions, the proof of payment is completely free.

3. Link Your Accounts

You may collect funds by integrating your Statrys account with payment providers and eCommerce platforms linked to your business 👨‍🏫 Online marketplaces can transfer funds directly into your account. Statrys may also be linked to Stripe and PayPal.

4. Payment Cards

Prepaid Mastercards may be ordered to bring your electronic transactions into the real world. For example, a prepaid Statrys card allows you to provide staff with a card for company spending 🏆 It also lets you make POS purchases while you're out and about. This is useful for keeping track of commercial purchases made at physical stores.

The software allows you to manage your cards. This page overviews active transactions and expenditure kinds 👨‍🏫 You may also create monthly statements outlining your expenses. With this information, you'll be better positioned to determine your company's expenditures.

5. Forex Services

Exchange rates can easily affect earnings if you often manage funds in several currencies 🏆 However when it comes to basic bank transactions, these rates are frequently the highest.

Conversely, Statrys provides a Forex service that lets you take advantage of real-time exchange rates 👨‍🏫 You may place spot and forward orders through their Trade Desk, which allows you to reserve optimal exchange rates to change your money into the currency of your choice when it is the most economical.

6. Simple and Transparent Pricing

Statrys' cost for creating a business account is straightforward 🏆 It begins at HKD 88 per month, and you may use it according to your company's needs. Other charges include:

HKD incoming & outgoing payment: Zero Fees
Incoming non-HKD revenue: HKD 65 limit per payment
Outgoing payment in non-HKD: HKD 110 / payment
Multi-currency business account
Multilingual customer support

7. Money Protection from Market Movements

When numerous currencies move in and out, spot trading and forward contracts may be beneficial 👨‍🏫

How to Set up a Statrys Business Account?

To implement a Statrys Business Account, you must set up an online Statrys account before entering details regarding your firm and its personnel 🏆

Step 1: Create an Account with Statrys

Here's how to set up an online Statrys account:

Go to Statrys' website and click the 'Open an account' option.
Select the jurisdiction in which your company will be incorporated.
Enter personal information about yourself, such as your complete name, address, and date of birth. This is so that the onboarding staff may contact you on the progress of your application.
After that, enter your nationality and country of residence and click proceed.
You will be given a six-digit OTP; input this and proceed.
Enter a password, and you'll have an online Statrys account.

Step 2: Adding Company Information

Next, enter the following information about the firm you are registering:

Include the firm name and, if applicable, the domain.
Next, provide the company's registered address.

Step 3: Adding Business Details

Then you'll receive a request for information regarding your company's operations:

Determine whether or not your company has yet to begin operations.
Describe your company's nature.
Include a brief description of your company, including an overview, information about your business strategy and functions, and the items and services you provide.
Include payment details for the nations to which you plan to transfer and receive money.

Step 4: Adding Company Structure

You will also be asked to provide information about the business's structure:

Begin with your relationship with the firm.
Next, add directors and shareholders as persons or as a corporation.
Include their entire name, nationality, country of residence, and whether or not they are a nominee.
Include copies of all owners, directors, and investors' passports.
After that, submit copies of any pertinent business profile papers, such as business registration documents.

Step 5: Review Your Application

The application will then proceed to the last stage, where you may examine it before submitting it. Keep in mind to:

Ensure that all of the data provided in your application is complete and accurate.
Look into the terms and conditions.
Review the privacy statement.
Review the restricted industries and nations list.
Permit to contact you in the future.
Tell them how you learned about Statrys.

Then, you can submit your application, which will be evaluated within 24 hours and notified.

Importance of Opening a Bank Account With Statrys

There are several distinctions between creating a Statrys bank account and holding a standard one. The primary difference is that this payment platform is entirely digital 👨‍🏫 Business owners may enjoy banking services without gathering many papers or waiting in branch lines.

Furthermore, Statrys gives you complete management over your company's finances in one location. Finally, it enables companies to make payments, examine balances, add beneficiaries, and efficiently manage their users online 🏆 This platform is entirely digital and accessible through the means used by company owners, such as WhatsApp, emails, or phone conversations.

Statrys Limitations and Restrictions

#1 Is Statrys Safe?

Statrys is regulated as a Small Payment institution in the United Kingdom by the FCA, or what we know as the Financial Conduct Authority 👨‍🏫 Meanwhile, Hong Kong handles it as a Money Service Operator by the Customs and Excise Department. And regulation does give some assurance.

Users' funds are held in a fully regulated custodian bank in Hong Kong. Statrys keeps your money separate from their company accounts 🏆; still, they appear highly proactive regarding internet safeguards.

Reported Security:

A third-party authority audited Their platform regularly: Threat Intelligence is a CREST-accredited company.
They encrypt all communication on their website using a genuine SSL certificate.
Statrys has put in place multi-factor authentication (MFA)

2. How Long Does it Take Countries to Transfer Money?

The quick answer is that it usually takes 2-3 business days. Local HKD and SEPA payments in EUR are received within one business day 👨‍🏫 However, international SWIFT payments might take 3-5 working days.The currency combination and the quantity transferred also affect the transfer speed.

The following is the standard timetable for international SWIFT payments:

Time to transfer money to Statrys (if you don't have a specific currency): One to two days
Processing time: Differs
Time to reach recipient account: 1-2 days, depending on local rules

Deal With Statrys and Fit Your Business Needs Today

Statrys is your best choice if you need a digital payment platform for your business in Hong Kong to help with financial management 👨‍🏫 This digital platform provides typical banking products and goes above and beyond to meet your needs.

It provides small company owners complete services such as international payments, multi-currency payment capabilities, and direct market access for foreign exchange 🏆 As a result, you may conveniently manage your company transactions using this digital payment platform.

As a result, we believe that this article is vital for you in any business area 🏆 You may develop your business nationally and worldwide by introducing additional features and services. So we urge you all to take advantage of these opportunities.